Pragma Gestao DE Patrimonio Ltd. Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Pragma Gestao DE Patrimonio Ltd. bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 25,000 shares of the electronics maker’s stock, valued at approximately $3,574,000. TE Connectivity comprises about 2.0% of Pragma Gestao DE Patrimonio Ltd.’s portfolio, making the stock its 15th biggest holding.

A number of other large investors have also added to or reduced their stakes in TEL. Vanguard Group Inc. raised its position in shares of TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Amundi bought a new position in TE Connectivity in the 4th quarter valued at about $159,992,000. Nordea Investment Management AB acquired a new stake in TE Connectivity during the fourth quarter worth approximately $149,211,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of TE Connectivity by 2,330.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after acquiring an additional 722,565 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares during the period. Institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL stock opened at $149.69 on Thursday. The business has a fifty day simple moving average of $149.34 and a 200 day simple moving average of $148.41. The company has a market cap of $44.66 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 EPS. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.90%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 45.37%.

Analysts Set New Price Targets

A number of research analysts have commented on TEL shares. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company raised their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $167.00.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.